Whilst it is legally possible to run multiple businesses under the one company, it is not without its constraints. It is important that you understand the risks associated. If you are unsure about how best to structure your business affairs, it may be worth consulting a business lawyer for advice.

Can one business do multiple things?

The answer is yes–it is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a “Fictitious Name Statement” or a “DBA” (also known as a “Doing Business As”) to operate an additional business under a different name.

Is owning multiple businesses worth it?

Think starting one business is tough? Try owning multiple. As any serial entrepreneur will tell you, it’s not actually that crazy to start and manage multiple businesses. After all, it improves your odds for financial security, demands you to use all your skills and keeps your mind sharp.

Can a business have 2 names?

A limited liability company can have multiple DBAs or “doing business as” names. A DBA, also known as a fictitious business name, is a business name that is different from the business’s official legal name. DBAs allow an LLC to use multiple business names without having to form separate businesses.

Why is owning a small business is the best independence there is?

Personal independence in the form of business ownership is core to the American dream. Choosing what you want to do and being free to pursue those goals are close to the principles of the Founding Fathers.

How to structure multiple businesses under one roof?

a. Limited Liability Company; or b. Corporation (an S or C Corporation); or c. Partnership. Determine if the business trade name you’d like to use is available in the state in which you choose to form a business entity. If it is available, determine if the trade name has been federally trademarked by another party.

Is it possible to start a small business?

In addition to being a unique idea at the time, he also chose an excellent location and developed a solid food menu. Unless your overhead is extremely low, you are probably going to need to serve food to make a go of this business, so yes you can be extremely successful–but it is no small undertaking.

Is it expensive to have multiple business entities?

It’s worth noting that having a separate legal business entities can be costly when it’s time to file your taxes as most CPAs charge an additional fee to file each business entity’s tax returns.